Ken Lewis to Retire as President & CEO at Year End

[Londonlawyer]

Originally Posted by lumbollo

You gave the population for the entire combined statistical area which really isn't relevant to the point being referenced. The NY Metro division, which is the city and the surrounding suburban counties is about 11.5M....

You have no idea what you're talking about. If you drew a 35 mile radius around Manhattan, there are about 18m people. In a tiny city like Charlotte, Mooresville is considered a suburb. Would you not consider towns 35 miles from the second largest city in the world to be suburbs of NY?

Suburban NY:

Westchester 950,000
Nassau 1.33m
Suffolk 1.42m

Suburban NJ

Bergen 894,000
Essex 771,000
Hudson 596,000
Middlesex 789,000
Monmouth 642,000
Morris 488,000
Passaic 491,000
Union 523,000

Suburban CT:
Fairfield 882,000

Total near-in suburban population: 9,776,000 +8.3m NYC =18,076,000

[lumbollo]

Originally Posted by Londonlawyer

You have no idea what you're talking about. If you drew a 35 mile radius around Manhattan, there are about 18m people. In a tiny city like Charlotte, Mooresville is considered a suburb. Would you not consider towns 35 miles from the second largest city in the world to be suburbs of NY?

Mooresville is not considered a suburb of Charlotte. In fact Iredell county is not even in the Charlotte metro area. I am using the US government defintion which you also used when you gave those population numbers. Now if you want to start drawing circles around an arbitrary point I don't mind but this invalidates your original point. I stand buy what I said concerning NY.

BTW NYC isn't the 2nd largest city in the world. Not even close. Mexico City even surpassed it last year as the largest city in NA.

[Londonlawyer]

When Charlotte's metro population of 1.8m is cited, it not only includes Mooresville but areas beyond it.

You seem to have a Napoleon complex re: NY.

PS: I guess when the BofA HQ moves to NY, the transfer of the 500 or so top people will add to NY's 18M.

PPS:

Largest Cities in the World - List One

Most Populous Urban Agglomerations

By Matt Rosenberg, About.com

Aug 19 2007

This is a listing of the 26 most populous cities in the world (those having a population over eight million). Data are estimates from late 2005.
All population figures for the world's largest urban areas are simply estimates. There's no way to know the exact population of such a large place. If you don't like this list, you can review Largest Cities in the World - List Two, based on different methodologies. Both lists are valid estimates.

1. Tokyo-Yokohama, Japan - 33,200,000
2. New York, United States - 17,800,000
3. Sao Paulo, Brazil - 17,700,000
4. Seoul-Incheon, South Korea - 17,500,000
5. Mexico City, Mexico - 17,400,000
6. Osaka-Kobe-Kyoto, Japan - 16,425,000
7. Manila, Philippines - 14,750,000
8. Mumbai, India (formerly Bombay) - 14,350,000
9. Jakarta, Indonesia - 14,250,000
10. Lagos, Nigeria - 13,400,000
11. Kolkata, India (formerly Calcutta) - 12,700,000
12. Delhi, India - 12,300,000
13. Cairo, Egypt - 12,200,000
14. Los Angeles, United States - 11,789,000
15. Buenos Aires, Argentina - 11,200,000
16. Rio de Janeiro, Brazil - 10,800,000
17. Moscow, Russia - 10,500,000
18. Shanghai, China - 10,000,000
19. Karachi, Pakistan - 9,800,000
20. Paris, France - 9,645,000
21. Nagoya, Japan - 9,000,000 (tie)
21. Istanbul, Turkey - 9,000,000 (tie)
23. Beijing, China - 8,614,000
24. Chicago, United States - 8,308,000
25. London, United Kingdom - 8,278,000
26. Shenzhen, China - 8,000,000

[lumbollo]

^Those are metro area populations. Not city populations. There is no consistent comparable definition of metro. In the case of Tokyo for example you would need to count the Kanto region if you were comparable to the area that you have for NYC and that means a metro of ~52M. Same for many of the other areas and you also left some out. You need to go study up on the subject.

In any case it is off topic in a discussion of Ken Lewis, BofA and Charlotte so this is the last I will say about it in this topic.

[Londonlawyer]

Those are close suburbs of NY.

Suburbs are always included when describing a city's population -- not just the city's legal boundaries. No one from Charlotte says that Charlotte has 680,000; they say it's a city of 1.8m. Similarly, no one from Atlanta states that it's a city of 580,000.

Lastly, the southernmost point of the City of NY (i.e., Staten Island) is about 60 miles from the northernmost point of the Philadelphia city limits. By all accounts, NY and Philly are one metro with about 30m people. The Acela train takes about 1 hr and 5 mins. from city center to city center.

PS: I'm simply correcting the idiotic misstatement that NYC is losing population. Both the city itself and the metro are gaining population notwithstanding its gigantic cost of living.

[SunnyKayak]

focus back to the orignal topic of this thread

[eek]

^to add on to that, to help ppl better relate, from parsons blvd (in queens) via the F train to midtown manhattan takes roughly an hour, give or take.

so basically it takes the same amount of time to get from one part of nyc to another as it does to get from philly to ny via the acela train (i guess, if what the guy says is true because i've never had to do that).

also, ppl in jersey city can get to manhattan faster than those of us in jamaica, queens. so metro areas DO count and should count.

[Akhenaton06]

Originally Posted by ohioaninsc

There is no reason for our ego to be bruised even if we do lose the status of being the Corp HQ city for the bank....several great cities don't have any Fortune 500 HQs in their city, but they are just fine....look at places like Portland or Denver or Tampa...all great cities, but no Fortune 500 HQs in them...I'm sure there are more...

The Portland area has two F500's, Denver has 11, and the Tampa Bay region has 2. There is a very strong correlation between a region's economic success/standing and the number of F500 companies headquartered there. If we lost BOA's HQ, we'd still have seven F500 companies in the area, which is a respectable number. That, of course, doesn't include local companies that could break into that prestigious group within a few years (like Belk) or companies that could move to the area.

[lumbollo]

Lewis will be leaving BofA with a $53M pension plan on top of all the other stock options and accrued salary that he has made over the years. Last year I believe he was directly compensated $20M.